XTX Topco Ltd Makes New $380,000 Investment in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Key Points

• XTX Topco Ltd acquired a new stake in Praxis Precision Medicines by purchasing 10,043 shares, valued at roughly $380,000, in the first quarter.
• Analysts have varied ratings on Praxis, with a consensus of "Moderate Buy" and a current average price target of $95.22.
• Praxis Precision Medicines recently reported an earnings per share (EPS) of ($3.31), surpassing estimates by $0.09.

XTX Topco Ltd purchased a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,043 shares of the company's stock, valued at approximately $380,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $30,000. Graham Capital Management L.P. bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $209,000. Envestnet Asset Management Inc. bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $231,000. Freestone Grove Partners LP bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $237,000. Finally, Ameriprise Financial Inc. bought a new position in Praxis Precision Medicines during the fourth quarter valued at about $248,000. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Price Performance

Shares of PRAX traded down $1.33 on Friday, hitting $45.94. The company's stock had a trading volume of 438,540 shares, compared to its average volume of 550,888. The company has a market capitalization of $967.04 million, a PE ratio of -3.74 and a beta of 2.62. Praxis Precision Medicines, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $91.83. The company has a 50 day moving average price of $48.11 and a 200 day moving average price of $47.85.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($3.31) EPS for the quarter, topping the consensus estimate of ($3.40) by $0.09. Praxis Precision Medicines had a negative return on equity of 60.07% and a negative net margin of 2,137.48%. On average, equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PRAX shares. Needham & Company LLC reiterated a "buy" rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. Wedbush upped their price objective on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research note on Monday, May 5th. HC Wainwright upped their price objective on Praxis Precision Medicines from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Oppenheimer upped their price objective on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Chardan Capital reiterated a "buy" rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.22.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.